TeraWulf Announces July 2024 Production And Operations Update, Mined 195 Bitcoin In July

Author: Benzinga Newsdesk | August 05, 2024 08:56am

Advancements of AI/HPC digital infrastructure projects at Lake Mariner

 

10 EH/s of installed and operational self-mining capacity, up 100.0% Y-o-Y

Completion of Building 4 at Lake Mariner in July

EASTON, Md., Aug. 05, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (NASDAQ:WULF) ("TeraWulf" or the "Company"), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy, today provided an unaudited monthly production and operations update for July 2024.

July 2024 Production and Operations Highlights

• Self-Mined Bitcoin: Mined 195 bitcoin in July with an average production rate of approximately 6.3 bitcoin per day.
• Operating Capacity: TeraWulf's installed and operational self-mining capacity reached approximately 10 EH/s, representing a 100.0% year-over-year increase.
• Power Cost: Averaged $36,346 per bitcoin self-mined in July, reflecting an approximate rate of $0.047/kWh and excluding the benefit of expected demand response or ancillary services proceeds, which are expected to be substantial, as described below.
• Demand Response: The Lake Mariner facility curtailed over 3,400 MWh in connection with demand response activities in July, which is expected to reduce power costs by approximately $0.013/kWh in the month. TeraWulf's demand response savings represent the equivalent value of approximately 31 BTC using July's "Value per Bitcoin Self-Mined" in the table below.

Key Metrics1	July 2024	June 2024
Bitcoin Self-Mined Lake Mariner	155	136
Bitcoin Self-Mined Nautilus	40	41
Value per Bitcoin Self-Mined2	$	62,887	$	66,178
Power Cost per Bitcoin Self-Mined	$	36,346	$	32,373
Avg. Operating Hash Rate (EH/s)3	8.0	7.1
Nameplate Miner Efficiency (J/TH)4	24.6	24.6

 

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